Research and Development (R&D) performs a dual role when it contributes simultaneously to the creation of new knowledge and the practical application of that knowledge for achieving organizational objectives. R&D is not limited to scientific investigation; it also acts as a strategic and managerial function that supports innovation, competitiveness, productivity and long-term growth. The dual role becomes particularly important in organizations operating in technology-intensive and rapidly changing environments, where scientific discoveries must be converted into commercially useful products, processes or services. The first role of R&D is the research role. It involves systematic investigation to generate new knowledge, discover new technologies, understand market and technological trends, and solve existing or anticipated problems. Research may be basic, applied or exploratory. Basic research expands scientific knowledge without an immediate commercial objective, whereas applied research focuses on solving specific practical problems. Exploratory research helps an organization investigate new technological possibilities and emerging opportunities. Through this role, R&D provides the knowledge base required for future innovation. The second role is the development role. It involves transforming research findings, ideas and technological possibilities into usable products, processes, services or improvements. Development activities may include designing prototypes, testing products, conducting pilot projects, improving production methods,